MENU
GET LISTED
GET LISTED
SHOW ALLPOPULAR CATEGORIES

What is Accounts Receivable Software?

Accounts receivable software is typically used to perform accounting and financial functions. The solutions range from simple single-entry apps for check writing and bookkeeping to advanced double-entry systems that include a general ledger. Sophisticated platforms offer extra features such as inventory, fixed assets, invoicing, and more. Accounts receivable software provides plenty of benefits as you can use it to automate your routine tasks, eliminate manual errors, keep your books accurate, get timely notifications to avoid penalties and more. Growing companies especially need a good quality accounts receivable software. You can start your search for the right system by browsing the leading solutions in this category, particularly FreshBooks that currently ranks as the best solution.

Accounts Receivable Software

Top 15 Most Popular Accounts Receivable Software

FreshBooks reviews
1.
FreshBooks

Our Score 9.8

User Satisfaction 99%

FreshBooks is the winner of our 2017 Best Accounting Software Award. It is a great cloud accounting app for small business that makes billing easy and effective. Read Reviews

Sage 50cloud reviews
2.
Sage 50cloud

Our Score 9.7

User Satisfaction 100%

Desktop & cloud accounting software that offers built-in anytime, anywhere cloud access applications. Read Reviews

Sage Business Cloud Accounting reviews
3.
Sage Business Cloud Accounting

Our Score 9.3

User Satisfaction 96%

Sage Business Cloud Accounting is an easy-to-use accounting application for small businesses and startups. Read Reviews

Zoho Books reviews
4.
Zoho Books

Our Score 9.6

User Satisfaction 100%

Zoho Books is the winner of our 2017 Great User Experience Award. It is an intuitive accounting software designed for small businesses to manage their finances. Read Reviews

FreeAgent reviews
5.
FreeAgent

Our Score 9.5

User Satisfaction 93%

The perfect financial management and accounting tool for small businesses or freelancers, whether you are just starting or in the business now. Read Reviews

Zoho Invoice reviews
6.
Zoho Invoice

Our Score 8.8

User Satisfaction 94%

Zoho Invoice is the winner of our Expert's Choice Award. It's ideal for companies that create and manage invoices and is designed for smaller businesses. Read Reviews

Xero reviews
7.
Xero

Our Score 9.5

User Satisfaction 97%

Xero is the winner of our 2017 Expert's Choice Award. It is a popular online accounting app designed for the needs of small and medium businesses in multiple industries. Read Reviews

Sage Intacct reviews
8.
Sage Intacct

Our Score 9.4

User Satisfaction 99%

Sage Intacct is a software app that offers a wide range of out-of-the-box features with customizable functions to fit various conversion funnels and purchase orders. Read Reviews

Brightpearl reviews
9.
Brightpearl

Our Score 9.0

User Satisfaction 98%

Brightpearl is a retail management system that helps businesses to manage orders, inventory, and customer data. Read Reviews

QuickBooks reviews
10.
QuickBooks

Our Score 9.4

User Satisfaction 96%

QuickBooks is an accounting software app that pioneered the use of windows that look like real-life forms. It offers most features every business will need. Read Reviews

FinancialForce Accounting reviews
11.
FinancialForce Accounting

Our Score 9.0

User Satisfaction 99%

FinancialForce is designed for large companies that have outgrown entry-level systems, but are not big enough to support their own intranet systems. Read Reviews

PaySimple reviews
12.
PaySimple

Our Score 8.9

User Satisfaction 95%

PaySimple is a cloud-based, receivables automation technology that is designed especially for small businesses. Read Reviews

QuickBooks Online reviews
13.
QuickBooks Online

Our Score 9.3

User Satisfaction 94%

QuickBooks Online is an ideal accounting software for freelancers and small businesses that simplifies small business accounting. Read Reviews

numberz reviews
14.
numberz

Our Score 8.0

User Satisfaction 96%

An AR management and process automation tool that helps businesses accelerate their payment collection processes. Read Reviews

Abila MIP Fund Accounting reviews
15.
Abila MIP Fund Accounting

Our Score 8.1

User Satisfaction 100%

Automate every transaction through the financial management solutions offered by Abila. Read Reviews

How To Choose The Best Accounts Receivable Software

Before we begin, let us peek into some statistics: The way how our business environment looks right now, almost 40% of invoices are paid with delay, almost 20% of customers avoid adhering to credit terms, and almost 50% of them delay their payments. In order to avoid making the landscape more terrifying, we’re going to skip mentioning the percentage of managers sitting behind their desks and wondering whether to ask for another payment extension. This being said, we operate in an online business environment where we can no longer rely on manual work to obtain tangible results. That’s, of course, unless we try to automate processes instead, and use the best Accounts Receivable software platforms we can find.

What do companies that use accounts receivable software programs have in common? Explained in simplest terms, automating receivable management equals the hiring of an ideal accountant that would always listen to your suggestions (but will make great decisions even on his own), pay attention to every detail, and most importantly – one that would work 24/7! Sounds attractive, doesn’t it? What matters, however, is to choose the best Accounts Receivable software tools for enterprises, and that’s what this guide will help you to do.

Get to know each product with free trial

First of all, a good course of action is to sign up for at least a few free trial plans or demo from popular accounts receivable software providers. With that method you will have the opportunity to test the important elements and you will get a good comparison of the capabilities of each app. The best thing to do is to try services that currently have the highest rankings in our SmartScore and Customer Satisfaction Rating in our accounts receivable software reviews: FreshBooks reviews, Intacct, Xero, Zoho Books, Zoho Invoice, AccountEdge, and KashFlow

Targeted Businesses

A/R measurement is critical for every success-orientated business, but there are still few specific cases in which a company must consider getting one. Those cases were the rationale for the creation and development of these programs which in their today’s form aim to intervene in the following scenarios:

  • Small Businesses whose team is disconnected. It is vital for every business to allow access to receivable communications to all members of the team, namely to store them in a central repository to save time and keep people on the same page. That way, the company will also eliminate the risk of losing valuable data (customer correspondence in particular).
  • Medium Businesses that are struggling to report and to use data for their scaling plans. Good management of accounts receivable actually refers to being able to reach customers without outsourcing and additional staff, but that obviously requires data to be summarized in a comprehensive manner. Accounts receivable software is usually packed with report and analytic features that allow you to develop unique payment options, and to keep employees connected with each other and with your customers.
  • Large Businesses that lack accurate data. It is easy to deviate from the truth when working in a 5000+ team and have twice as much regular customers. Unfortunately, for many companies accounts receivable are still sticky notes, legal pads, and spreadsheets passed between employees with no central platform to compare invoices. A good Accounts receivable program would not only unite data, but gather it directly from customers.

What are Examples of Accounts Receivable Software?

  • FreshBooks: One of the best cloud solutions for small business that streamlines tracking and invoicing. It allows you to collect payment online, and it is packed with advanced analytic features.
  • Intacct: Another highly-efficient cloud solution for small and medium businesses that provides statistics and key figures to help companies make smarter decisions.
  • QuickBooks: Simple and very popular software for small businesses that are just beginning to manage accounts receivable. It checks invoices and purchase orders and eases business transactions.
  • Xero: An online accounting app for businesses from all scales and industries, but also individual accountants and bookkeepers. It focuses on collaboration, and keeps teams connected wherever they are.
  • FinancialForce Accounting: Easy-to-use and maintain platform that provides an affordable end-to-end accounting solution for businesses from all scales.
  • Zoho Invoice: an accounting solution ideal for any company that creates and manages invoices. It has been specifically designed for sole proprietors and smaller businesses.

Types of Accounts Receivable Software

There are many different types of accounts receivable software tools, varying from free and basic tool suites to ultra costly and accurate programs. The list of features can also be categorization criteria, as certain programs do nothing but online accounting, while others are more robust and they allow accountants to manage third-party payrolls, track the entire sales cycle, and even do some custom branding. Deployment is also an important factor based on which there are:

  • On-premise accounts receivable programs. These are covered with a single license, and are hosted on the client’s local server. They qualify as the most expensive ones, due the fact that they require complex setup and occasionally some hardware installation.
  • Software-as-a-service (SaaS) accounts receivable programs. These are usually paid per month, and are hosted on the vendor’s server. The business owner is not responsible for installation, updating, and maintenance.
  • Cloud-hosted accounts receivable programs. Most of these offer free basic plans, and qualify as the most affordable ones due to their universal access and the fact that the client doesn’t need to update them or to pay for maintenance.

Key Features of Accounts Receivable Software

When buying your first accounts receivable system or upgrading to a more powerful one, you should be looking for the following features:

  • Accounts Receivable Ledger. The accounts receivable ledger is a list of customers and their due payments that ought to be updated every month. Therefore, it is an essential reporting asset that identifies and stores information, and a good AR system cannot function properly without it.
  • Accounts Receivable Aged Listing. This function will organize accounts receivable based on payers and dates, the ranges and columns being completely customizable to respond to the specific needs of your business. Obviously, this is another vital source of information you can use to perform reporting.
  • Customer Statements. Customer statements won’t be much different than the ones you’re printing now, but the mismatch will consist in the fact that you don’t have to enter information manually, and to double-check whether you’ve updated it. Customer statements are important to you because they fill the gap of reporting to customers their hanging and outstanding obligations.
  • Individual Collection Letters. The function ensures prompt and timely collection of receivables, most of the time using criteria prescribed by you. As time goes by, collection letters will become stricter, and your biggest benefit here is that wording will be automated in every single case.
  • Centralized Database. Last, but not least, your AR system is supposed to store and secure data in a centralized database. Ideally, you should be able to track information months and years back, using detailed categorization and advanced search filters.

Benefits of Accounts Receivable Software

Accounts Receivable software is a genuine proof that automating processes can have amazing results, or at least that’s what satisfied users have shared. According to them, AR systems are more than likely to improve your market position and to reduce the stress of not being able to meet your financial obligations. Thereof, after in-depth comparisons of popular solutions, we created a list of critical AR software benefits every company should consider:

  • A better cash-out position. AR systems make you focus on accounts receivable, and develop better prioritization practices to identify and close invoices earlier in the process. As a result, you will have more disposable means on the table, or at least a precise scenario of how your cash position looks like. This is critical for every company to be able to cover its financial obligations, so think about it!
  • Improved capital control. This comes somehow logically: if money is enough to cover everything, it means you’re handling it just fine. Thanks to developed AD systems, you understand your cash position, and you orientate capital towards better business decisions (prompt purchases, quality hiring, improved invoice collection, business-growth investments, and so on).
  • Better communication with customers. AR software usually encompasses a variety of communication facilitating tools, such as instant access to information, customized emails with attached invoices, merged documents, and logged phone calls. With the very best scenario, you will be also able to store this information and to use it for reports. Needless to say, the way in which you communicate with customers is the core of your credibility, so the more professional it gets, the more awards you’ll have to reap from it.
  • Reduced administrative costs. The critical improvement of your billing process is that you’ll start handling invoices digitally and that will automate administrative procedures too. Automated processes don’t only refer to your customers, but also your employees and partners who’ll get rid of printing, stamping, and sending documents manually.
  • Shorter payment cycles. The way how sales cycles usually look nowadays, they require plenty of time and expenses to be closed. The role of your AD system in the case will be to allocate the resources needed to cover that order in a more appropriate and economical way. If nothing else, you will approve projects much quicker than before, which is already a chance to be paid sooner. Meanwhile, invoices will be sent to customers automatically, and there will be a specific customer portal with information to give them more options for accelerated or off-the-shelf payment.
  • Efficient AR management. If you think about it, getting paid late is the least annoying part of the payment process: what can be really frustrating is keeping track or who is supposed to pay what, reminding debtors, and resolving issues related to the payment itself. That’s the biggest advantage of AR software – it simply allows you to stay in control! You won’t need to prepare in advance for reminding customers of their invoices, you will reduce the time necessary to prioritize tasks, you will deal with significantly fewer disputes related to the ‘I wasn’t told’ problem, and you will spend more time soliciting payment than your current work line can allow.
  • Minimal credit risk. The credit that needs to be extended to customers is the eternal retail dilemma. Managers are continuously stuck in complex risk calculations, time predictions, and unpleasant communications. AD systems can be of great help for the purpose, as they allow you to gather relevant information from third parties, and to control exiting relationships for sudden risks. More precisely, you will be able to generate credit reports where customers are categorized using risk estimations, to deliver credit applications, to work with your own scoring formulas, and to notify customers on time.

List of Accounts Receivable Software Companies

Updated

Selected products (0)

1.
FreshBooks

Our Score 9.8

User Satisfaction 99%

FreshBooks is the winner of our 2017 Best Accounting Software Award. It is a great cloud accounting app for small business that makes billing easy and effective. Read Reviews

  • Pricing: $15
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment, Annual Subscription
  • Customer Types: Small Business, Freelancers
  • Deployment: Cloud Hosted

2.
Sage 50cloud

Our Score 9.7

User Satisfaction 100%

Desktop & cloud accounting software that offers built-in anytime, anywhere cloud access applications. Read Reviews

  • Pricing: $44.97
  • Devices Supported: Windows, Android, iPhone/iPad, Web-based
  • Pricing Model: Monthly payment, Annual Subscription
  • Customer Types: Small Business, Large Enterprises, Medium Business
  • Deployment: Cloud Hosted, On Premise

3.
Zoho Books

Our Score 9.6

User Satisfaction 100%

Zoho Books is the winner of our 2017 Great User Experience Award. It is an intuitive accounting software designed for small businesses to manage their finances. Read Reviews

  • Pricing: $9
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment, Annual Subscription
  • Customer Types: Small Business, Medium Business, Freelancers
  • Deployment: Cloud Hosted

4.
Xero

Our Score 9.5

User Satisfaction 97%

Xero is the winner of our 2017 Expert's Choice Award. It is a popular online accounting app designed for the needs of small and medium businesses in multiple industries. Read Reviews

  • Pricing: $9
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment
  • Customer Types: Small Business, Freelancers
  • Deployment: Cloud Hosted, Open API

5.
FreeAgent

Our Score 9.5

User Satisfaction 93%

The perfect financial management and accounting tool for small businesses or freelancers, whether you are just starting or in the business now. Read Reviews

  • Pricing: $10
  • Devices Supported: Windows, Linux, Android, Mac, Web-based
  • Pricing Model: Monthly payment
  • Customer Types: Small Business, Medium Business, Freelancers
  • Deployment: Cloud Hosted

6.
Sage Intacct

Our Score 9.4

User Satisfaction 99%

Sage Intacct is a software app that offers a wide range of out-of-the-box features with customizable functions to fit various conversion funnels and purchase orders. Read Reviews

  • Pricing: by quote
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Quote-based
  • Customer Types: Small Business, Large Enterprises, Medium Business, Freelancers
  • Deployment: Cloud Hosted

7.
QuickBooks

Our Score 9.4

User Satisfaction 96%

QuickBooks is an accounting software app that pioneered the use of windows that look like real-life forms. It offers most features every business will need. Read Reviews

  • Pricing: $5
  • Devices Supported: Windows, Linux, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment, One-time payment, Annual Subscription
  • Customer Types: Small Business, Large Enterprises, Medium Business
  • Deployment: Cloud Hosted, On Premise

8.
QuickBooks Online

Our Score 9.3

User Satisfaction 94%

QuickBooks Online is an ideal accounting software for freelancers and small businesses that simplifies small business accounting. Read Reviews

  • Pricing: €4.20
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment
  • Customer Types: Small Business, Freelancers
  • Deployment: Cloud Hosted

9.
Sage Business Cloud Accounting

Our Score 9.3

User Satisfaction 96%

Sage Business Cloud Accounting is an easy-to-use accounting application for small businesses and startups. Read Reviews

  • Pricing: $10
  • Devices Supported: Windows, Android, iPhone/iPad, Mac, Web-based
  • Pricing Model: Monthly payment
  • Customer Types: Small Business, Freelancers
  • Deployment: Cloud Hosted

10.
Wave

Our Score 9.1

User Satisfaction 99%

Wave is the world's fastest growing software for small businesses' 100 % free accounting and unlimited invoicing. Read Reviews

  • Pricing: free
  • Devices Supported: Windows, iPhone/iPad, Mac, Web-based
  • Pricing Model: Free
  • Customer Types: Small Business, Freelancers
  • Deployment: Cloud Hosted

Our Score Read More

Our platform utilizes our innovative SmartScore™ algorithm to evaluate all the applications in the Accounts Receivable Software category in orded to help you get the best possible service. It evaluates the following elements: individual modules, collaboration elements, customization, integrations with other services, user friendliness, help & support, how secure a software is, support for mobile devices, scores in other media. Currently, FreshBooks is the leader in this category and is recommended by our experts. After thorough research and analysis it had the best results among its competitors and we strongly suggest that you consider it as one of the choices for your needs.

User Satisfaction Read More

A summary of general user satisfaction with the services in our Accounts Receivable Software category evaluated with our unique algorythm that finds customer reviews, comments and opinions across a wide range of social media platforms to help you make an informed investment decision.

99%

100%

100%

97%

93%

99%

96%

94%

96%

99%

Pricing Read More

Each vendor in the Accounts Receivable Software category will offer a different group of pricing plans for its app and every plan will include a varied group of tools. Below we list the general pricing for the cheapest package offered for each product. Please note that advanced features may cost extra.

$15

$44.97

$9

$9

$10

by quote

$5

€4.20

$10

free

Devices Supported Read More

An analysis of what type of devices and operating systems are supported by these B2B tools in the Accounts Receivable Software category, including mobile platforms and web-based solutions.

Windows

Android

iPhone/iPad

Mac

Web-based

Laguages Supported Read More

Learn which languages and countries are supported by the best B2B apps in the Accounts Receivable Software category, including apps intended for international markets and prepared for multi-cultural groups of employees.

Pricing Model Read More

Examine what pricing plans are provided by the vendors in the Accounts Receivable Software category to check which one suits your business preferences and expenses best. Keep in mind that certain solutions can support free or freemium accounts for you to try out first.

Free

Monthly payment

One-time payment

Annual Subscription

Quote-based

Customer Types Read More

A brief look at which types of companies a selected B2B solution in the Accounts Receivable Software category aims for, from small businesses and non-profits to big enterprises.

Small Business

Large Enterprises

Medium Business

Freelancers

Deployment Read More

A summary of what types of software deployement are supported by each B2B vendor in the Accounts Receivable Software category. Although most of modern SaaS solutions are cloud-based there are solutions may offer an on-site deployment model too.

Cloud Hosted

On Premise

Open API

Post by Alex Hillsberg